This is the first investment of the firm launched in May and part of the Jungle Ventures Group, which counts Accel Partners India, Ratan Tata-backed RNT Associates and Sing apore government's Infocomm Investments as investors.

As part of the funding arrangement, Bengaluru-based Appknox will be partially working out of Singapore. The company, which analyses mobile app security on the cloud, has among its clients major ecommerce and payments companies such as Paytm, BigBasket, Myntra and Goibibo.

"We also have four enterprise customers in Singapore apart from grocery app Redmart and content platform HOOQ," said Prateek Panda, cofounder of Appknox.

Appknox works on a subscription model and runs a list of 40 tests on mobile apps without the clients having to share source code with it. The platform also carries out manual assessments of the app to check the data flow.

"Given the explosive growth in mobile apps and smartphone users globally, security will be more important as the next billion smartphone users get online. Appknox is well poised to tap into this huge opportunity," said Tiang Lim Foo, operating partner at SeedPlus who will also be joining the company board as director.